Grove Bank & Trust Sells 889 Shares of Micron Technology, Inc. $MU

Grove Bank & Trust cut its holdings in Micron Technology, Inc. (NASDAQ:MU) by 10.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,554 shares of the semiconductor manufacturer’s stock after selling 889 shares during the quarter. Grove Bank & Trust’s holdings in Micron Technology were worth $931,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of MU. Vanguard Group Inc. lifted its position in shares of Micron Technology by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer’s stock valued at $8,854,644,000 after acquiring an additional 2,049,163 shares during the period. Goldman Sachs Group Inc. grew its holdings in Micron Technology by 23.8% in the first quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer’s stock worth $922,467,000 after purchasing an additional 2,038,641 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Micron Technology by 0.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 6,938,848 shares of the semiconductor manufacturer’s stock valued at $602,917,000 after purchasing an additional 58,285 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Micron Technology by 26.3% in the first quarter. Dimensional Fund Advisors LP now owns 6,800,052 shares of the semiconductor manufacturer’s stock valued at $590,807,000 after purchasing an additional 1,416,174 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Micron Technology by 0.4% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,366,631 shares of the semiconductor manufacturer’s stock valued at $379,417,000 after purchasing an additional 17,970 shares during the period. 80.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MU. JPMorgan Chase & Co. raised their target price on Micron Technology from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Tuesday, August 12th. Rosenblatt Securities reaffirmed a “buy” rating and set a $200.00 price target on shares of Micron Technology in a research note on Thursday. Cantor Fitzgerald raised their price objective on Micron Technology from $155.00 to $185.00 and gave the company an “overweight” rating in a research note on Monday. Wedbush boosted their price objective on Micron Technology from $165.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday. Finally, CLSA assumed coverage on Micron Technology in a research report on Wednesday, August 27th. They set an “outperform” rating and a $155.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $161.00.

Micron Technology Trading Up 5.6%

NASDAQ MU opened at $168.89 on Friday. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. The business has a fifty day simple moving average of $123.05 and a 200 day simple moving average of $105.09. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $170.45. The firm has a market capitalization of $189.01 billion, a P/E ratio of 30.43 and a beta of 1.47.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.34. The firm had revenue of $9.30 billion during the quarter, compared to analyst estimates of $8.83 billion. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. During the same quarter in the prior year, the business posted $0.62 EPS. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. On average, analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, July 7th. Micron Technology’s dividend payout ratio is presently 8.29%.

Insider Transactions at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $115.67, for a total value of $278,070.68. Following the completion of the transaction, the director directly owned 20,146 shares of the company’s stock, valued at $2,330,287.82. This represents a 10.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Steven J. Gomo sold 7,000 shares of the stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $125.15, for a total value of $876,050.00. Following the sale, the director directly owned 22,762 shares of the company’s stock, valued at $2,848,664.30. The trade was a 23.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 275,946 shares of company stock worth $34,242,567. Company insiders own 0.30% of the company’s stock.

About Micron Technology

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.